Gold Bearish idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Neutral
Trade scenario 1: We are still looking bearish on the daily timeframe but we can see the 4hour timeframe is clearly consolidating. We do not trade consolidation so we will have to wait for a break.
Ideally, price action breaks bearish and we can spot clear lower highs to enter short on. Continue looking for breaks of support followed by lower high formation.
Trade scenario 2: For us to consider gold bullish again we would need to see a break above 1870.00 with strong bullish characteristics from price action.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Neutral
Trade scenario 1: We are still looking bearish on the daily timeframe but we can see the 4hour timeframe is clearly consolidating. We do not trade consolidation so we will have to wait for a break.
Ideally, price action breaks bearish and we can spot clear lower highs to enter short on. Continue looking for breaks of support followed by lower high formation.
Trade scenario 2: For us to consider gold bullish again we would need to see a break above 1870.00 with strong bullish characteristics from price action.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.